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Debate House Prices
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Mortgage rates set to soar
Comments
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The uncertainty is if they will go up, but certainty that the only change will be up.
This is for no other reason than they cant go down!
The uncertainty is when they will go up and I agree that they will certainly go up. However, for our own financial planning it's a judgement call on when rates will rise, how high they will rise and how fast.
There is no point going on a 2 year fixed rate mortgae today if you think that rates will only begin to rise in 18 months time and continue to rise/stay high for a further 5 years.
However, the initial comment I made was just a joke on the apparent paradox of your sentence, nothing more.
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RenovationMan wrote: »The uncertainty is when they will go up and I agree that they will certainly go up. However, for our own financial planning it's a jugement call on when rates will rise, how high they will rise and how fast.
There is no point going on a 2 year fixed rate mortgae today if you think that rates will only begin to rise in 18 months time and continue to rise/stay high for a further 5 years.
However, the initial comment I made was just a joke on the apparent paradox of your sentence, nothing more.
But the world is littered with similar examples. There can be uncertainty of an event happening but only one certain outcome.
If X wins enough points they will be promoted to the premiership.
My view has always been that history has shown us that when things do happen, the outcome is quick. Ie rates from 4 > 6% are less likely than 4 > 8%.0 -
i have been hearing this same story for the past 3 or 4 years--if i had gone off my SVR when advised by the wse it would have cost me thousandsmfw'11 No68- 55k mortgage İO--little to nothing saved! i must do better.0
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The quicker the better as far as I am concerned.
Then I can give HMRC a bit more and consume more."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
so i could have put a lot of effort in getting a new product and spent a fortune and paid more --thats not financial planning-!mfw'11 No68- 55k mortgage İO--little to nothing saved! i must do better.0
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RenovationMan wrote: »Yorkshire Building Society have a 10 year fixed rate mortgage at 4.39%. I'm assuming that the current financial crisis will be forgotten by then.
Yes you're right mate, unfortunately if my predictions come true, we'll be in far far deeper !!!!!! by then..... time will tell.Have owned outright since Sept 2009, however I'm of the firm belief that high prices are a cancer on society, they have sucked money out of the economy, handing it to banks who've squandered it.0 -
Yes you're right mate, unfortunately if my predictions come true, we'll be in far far deeper !!!!!! by then..... time will tell.
Perhaps but then, like now, life will go on.
I'm currently reading "The four horsemen of the Apocalypse" by Vincente Blasco Ibanez free on my Kindle. You should give it a go, it'll put the current financial issues Europe is facing into perspective.0 -
I hope they go up. How about 8%, that would be good for long suffering savers!
The problem is if they even go up 0.5% lots of people with homes will be in trouble.... things are very fragile arnt they?0
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